Ripple, can this coin break records?
January 8, 2018 7:55 am,
Before we analyze the price levels and trends, let’s get our facts clear on what is Ripple.
It is a digital currency (XRP) and an open payment network within which that currency is transferred. It is a distributed, open-source payments system that’s still in beta. The goal of the system, according to its website, is to enable people to break free of the “walled gardens” of financial networks – i.e., credit cards, banks, and other institutions that restrict access with fees, charges for currency exchanges and processing delays.
With its global presence and accessibility, on-demand speed, low costs and certainty to traceability of funds, Ripple has made its mark as one of the leading cryptocurrencies worldwide.
With the use of blockchain technology, this coin is now emerging. It has shown great upward moving results in the recent past. People are now comparing it to the number 1 cryptocurrency Bitcoin.
Find out more about Bitcoin vs. Ripple here: https://www.express.co.uk/finance/city/900576/Bitcoin-price-Ripple-price-today-neo-cryptocurrency-Bitconnect-price-Binance-coin-Coindesk
XRP is the cryptocurrency that powers Ripple’s blockchain technology to send money across the world in real time settlements.
In recent weeks, ripple’s value has spiked, making it the second most valuable digital currency and bringing it newfound attention.
The relatively obscure cryptocurrency, also known as XRP, is now worth about $3.10 (as on 6th January 2018) with a market cap of more than $100 billion, according to CoinMarketCap. In early December, it was trading at just 25 cents.
Even with the spike, it is worth considerably less than Bitcoin. After a tumultuous December, bitcoin was trading around $15,000 late Tuesday with a market cap of more than $250 billion.
As on 5th January 2018, the price of Ripple’s XRP token fell more than 25% after Coinbase dispelled rumors that it would soon offer to trade in the digital currency.
While XRP climbed to as much as $3.84 on the previous day, the cryptocurrency dropped to as little as $2.83 today.
Ripple’s CEO Brad Garlinghouse reveals why XRP will take over the leading cryptocurrencies and hence said: “The reason why XRP is unique is, it settles in three seconds so I’m not taking risks on the kind of volatile where bitcoin take hours.”
Ripple did not waste any time in consolidation, as we had anticipated. It just broke out to new lifetime highs yesterday and has continued higher.
The coin also claims that three of the top five money transfer companies worldwide will be implementing these XRP token in their payment flow systems this year.
Enabling the world to move value like it moves information today.